MSD Partners, L.P. has closed its MSD Real Estate Credit Opportunities Funds (RCOF) with more than $1.1 billion in commitments, exceeding its initial target of $750 million.
Investors in the fund include a diverse and global base of investors. In addition, Michael Dell and his family, together with firm employees, committed approximately $300 million to the fund.
RCOF is a dedicated real estate credit strategy that seeks to generate superior, risk-adjusted returns by originating and actively managing structured credit investments secured by high-quality real estate. The fund has a broad mandate to make commercial real estate loans, structured investments and purchase real estate loans and securities. It will seek to take advantage of current market dynamics and maintains a robust pipeline of opportunities.
The fund is led by Portfolio Managers Rob Platek, Jason Kollander and Adam Piekarski.
“We are gratified to have received such strong support from new and existing limited partners,” said Mr. Platek. “Since launching the fund, we have been investing actively, particularly during the recent market dislocation. We believe the fund is well positioned to deploy capital to a range of opportunities that will continue to materialize as a result of the broader market environment and benefitting from MSD’s robust pipeline and relationships.”
“RCOF operates with a broad mandate that allows our team to identify and structure what are, in our view, the best risk-adjusted opportunities,” said Mr. Piekarski.
Mr. Kollander added, “We believe our ability to rapidly address situations with complex financing requirements and offer creative solutions puts us in a favorable market position.”
MSD Partners has a broad track record in credit, real estate, private equity and public securities. It is an SEC-registered investment advisor formed in 2009 by the partners of MSD Capital, L.P. Established in 1998, MSD Capital exclusively manages the assets of Michael S. Dell and his family.